Hippo (NYSE:HIPO) Given "Market Outperform" Rating at JMP Securities

JMP Securities reiterated their market outperform rating on shares of Hippo (NYSE:HIPO - Free Report) in a research note published on Monday morning, Benzinga reports. The firm currently has a $25.00 target price on the stock.

Hippo Price Performance

NYSE:HIPO traded down $1.47 during trading hours on Monday, reaching $21.02. 138,721 shares of the company were exchanged, compared to its average volume of 176,136. The business has a 50 day moving average of $16.27 and a 200 day moving average of $11.20. The company has a market capitalization of $511.00 million, a P/E ratio of -1.81 and a beta of 1.57. Hippo has a 1-year low of $6.64 and a 1-year high of $25.49.

Hippo (NYSE:HIPO - Get Free Report) last announced its quarterly earnings results on Wednesday, March 6th. The company reported ($1.76) EPS for the quarter, beating analysts' consensus estimates of ($2.04) by $0.28. Hippo had a negative return on equity of 61.14% and a negative net margin of 130.19%. The company had revenue of $64.50 million during the quarter, compared to analysts' expectations of $57.00 million. As a group, equities research analysts anticipate that Hippo will post -4.09 earnings per share for the current fiscal year.

Insider Transactions at Hippo

In other Hippo news, CRO Yuval Harry sold 14,938 shares of Hippo stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $17.20, for a total transaction of $256,933.60. Following the completion of the transaction, the executive now owns 145,162 shares in the company, valued at approximately $2,496,786.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Anirudh Badia sold 1,735 shares of the business's stock in a transaction on Monday, March 11th. The shares were sold at an average price of $18.39, for a total transaction of $31,906.65. Following the completion of the transaction, the chief accounting officer now directly owns 122,454 shares in the company, valued at approximately $2,251,929.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Yuval Harry sold 14,938 shares of the company's stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $17.20, for a total transaction of $256,933.60. Following the completion of the transaction, the executive now owns 145,162 shares of the company's stock, valued at $2,496,786.40. The disclosure for this sale can be found here. Corporate insiders own 11.28% of the company's stock.

Institutional Trading of Hippo

Several institutional investors have recently added to or reduced their stakes in HIPO. Vanguard Group Inc. raised its stake in Hippo by 135.5% in the first quarter. Vanguard Group Inc. now owns 15,042,378 shares of the company's stock worth $29,934,000 after buying an additional 8,655,415 shares in the last quarter. State Street Corp boosted its holdings in Hippo by 157.7% in the second quarter. State Street Corp now owns 4,045,702 shares of the company's stock worth $3,555,000 after purchasing an additional 2,475,532 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Hippo by 69.5% in the second quarter. Renaissance Technologies LLC now owns 3,533,200 shares of the company's stock worth $3,104,000 after purchasing an additional 1,449,094 shares during the last quarter. Northern Trust Corp boosted its holdings in Hippo by 237.3% in the second quarter. Northern Trust Corp now owns 2,473,055 shares of the company's stock worth $2,174,000 after purchasing an additional 1,739,907 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Hippo by 4.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,877,537 shares of the company's stock worth $3,737,000 after acquiring an additional 72,492 shares during the period. 43.01% of the stock is currently owned by hedge funds and other institutional investors.

Hippo Company Profile

Hippo Holdings Inc provides property and casualty insurance products to individuals and business customers primarily in the United States. The company operates through three segments: Services, Insurance-as-a-Service, and Hippo Home Insurance Program. Its insurance products include homeowners' insurance against risks of fire, wind, and theft, as well as other personal lines policies from third party carriers; and personal and commercial, as well as home, auto, cyber, small business, life, specialty lines, and other insurance products.